Professional Tax Return Preparation

Today's
tax laws are so complicated that unless your financial affairs are extremely
simple, chances are you will benefit from at least occasional help from a tax
professional. It is too easy to overlook deductions and credits to which you
are entitled if you prepare only one return a year. Even the use of computer
software is no substitute for the assistance of a seasoned tax preparer.

We prepare hundreds of tax returns every year. We know what to look for when
your return is prepared. More importantly, you will have someone to answer your
questions during the rest of the year. And we can put you on our mailing list
to receive timely tax, business, and financial advice.

Your Tax-Cutting Checklist

Whether you're a wage earner, an investor, a business owner, or all three,
you should use the tax-cutting benefits available in the tax law. There is little
to be gained by paying more tax than the law demands.

Identify the tax-savers for which you qualify. Here's a tax-cutting checklist
to get you started. Check the list to see if there are tax breaks that you are
overlooking.

For Individuals:

Roth IRA

Roth 401(k) if employer's plan permits

Rollover to Roth IRA

Tax-deductible IRA

Child tax credit

Child care credit

Earned income credit

Annual gifts to reduce estate

Education savings accounts

Education expenses

American opportunity tax credit

Lifetime learning credit

Bunching deductions

Flexible spending accounts

Health savings account

Donating appreciated assets instead of cash

Qualifying property for personal
residence gain exclusion

Best filing status

Shifting income or deductions from year to year

Adoption expense credit

For Investors:

Tax-free municipal bonds

Long-term capital gains

Rental property

Tax-free exchange

Low-income housing credit

Small business stock rollover

For Businesses:

Home office deduction

Keogh plan

SIMPLE plan

SEP

401(k) plan

First year expensing of business equipment

Year-end bonuses

Bad debt write-off

Disabled access credit

Other business tax credits

Tax-free exchange

Contact our office if you have questions or want more information
on these and other strategies that could reduce your taxes.